Govt Won’t Divert Capital Budget Into Elections Says Adeosun

The Minister of Finance, Mrs. Kemi Adeosun, has said the Federal Government’s 2018 capital budget of N2.4tn will be strictly used for infrastructural projects across the country, particularly the completion of ongoing projects.

According to a statement issued on Sunday by her Media Adviser, Mr. Yinka Akintunde, the minister gave the indication while responding to an enquiry by a member of the National Defence College Course 26 on the use of the capital budget.

Adeosun, who represented Vice-President Yemi Osinbajo at a lecture delivered to the NDC Course 26 participants, maintained that the present administration would not engage in the diversion of the capital project funds for the elections.

“The administration remains committed to infrastructure spending at the high level and the completion of major ongoing projects,” she said.

She also reiterated the commitment of government to its programme of transformation, and jobs and wealth creation across the country.

Delivering the speech of the Vice President titled “Economic Dimensions of National Security: The Nigerian Experience,” Adeosun said improvement in security was vital to Nigeria’s economic growth.

She said that the Federal Government would continue to play a key role in ensuring national cohesion by promoting social inclusion as a key state objective.

The minister disclosed that the government had adopted the Economic Recovery and Growth Plan as a response to the recession in order to restore growth and reduce Nigeria’s vulnerability to external shocks.

Adeosun explained that the ERGP was initiated to address macroeconomic imbalance, increase contribution of agriculture, manufacturing, mining and high value services to the economy.

On the Social Investment Programme, she said that about 200,000 N-Power jobs had been created under the programme while 250 million meals had been served under the Home Grown School Feeding Programme.

She added that 300,000 micro loans had been issued under the Government Enterprise and Empowerment Programme.